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How much money did you use to start your business?

Discussion in 'General Entrepreneur Discussion' started by pipedream2017, Nov 26, 2018.

  1. Lex DeVille
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    Lex DeVille CAUTION! I hurt people's feelings... Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR

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    No because it doesn't cost that much to start a candle biz. Literally anyone can start one for like $100. The expenses are for things that mostly have nothing to do with candles and everything to do with setting my business apart.
     
  2. TreyAllDay
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    TreyAllDay Whatever it takes Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    Depends - I'm in software and it was approximately $1000 with the various incorporation costs, licenses, etc. You don't really need to invest anything at all in some cases.
     
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  3. Duane
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    Duane Silver Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    I bought out a failing business in my industry for $62,000 and invested an additional $20,000 into it.

    I wanted to start with something rather than nothing, but I also was sitting on some cash.
     
  4. civilpro
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    civilpro New Contributor

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    Put it all in. At the end of the day, anyone who can shower and owns at least ONE clean outfit without holes can get a job in this economy. Just go down to the liberal part of your city and look around. THATs what you'd be competing with in the job market
     
  5. NewManRising
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    NewManRising Bronze Contributor Read Millionaire Fastlane I've Read UNSCRIPTED Speedway Pass

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    I've spent near $1000 funding my education that I will need now and later for a business. When I do start a product-based business I am planning on starting with at least $10,000.
     
  6. biophase
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    biophase Legendary Contributor I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR Summit Attendee

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    My first business I started for $100, the cost was for the domain, hosting and SSL license.
    My current business I started with $2000. That was the cost of the first production order.
     
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  7. The Abundant Man
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    The Abundant Man Silver Contributor Read Millionaire Fastlane Speedway Pass

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    [​IMG]
     
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  8. Vincent_Vega
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    Vincent_Vega Contributor

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    4k€. Business flopped, so I sold it for 2k€.
     
  9. LiveEntrepreneur
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    LiveEntrepreneur Bronze Contributor Read Millionaire Fastlane Speedway Pass

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    This is a great way of looking at things. The regret of not trying is greater than the regret of failing, and you only fail if you quit.
     
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  10. AimForTheMoon
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    AimForTheMoon New Contributor

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    My businesses have been anywhere from $250 to $3m
     
  11. artKarolina
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    $1k Christmas bonus, $50 to register. Been investing $5-15k cash back into the business every year to get new equipment, experiments to grow it slowly. I would've liked to have more money upfront of course, because it would've been a quicker growth but it worked out anyway. Video production. More importantly, actually had a business plan.
     
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  12. JohnD Realestate
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    JohnD Realestate Bronze Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    33k I think. Somewhere around there in 2006. RE biz.

    Although in reality I was just buying a house to live in. It had 3 apts and this was the only way I could see to afford to live close to NYC and not pay a fortune.

    But as the years went by it turned into a biz.


    Edit...good question by the way.

    It wasn’t my first biz. I sold dictionaries door to door for a company when I was 17. They ripped me off on my fist payday so I found a supplier and copycatted them. I ran out of steam. That was probably 200$ worth of books.

    At 23 Had a clothing store started with 5k of opm. Ran out of steam again. 22 years later after working for others I realized that once in a while I need to sit down and refocus.
     
    Last edited: Dec 3, 2018
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  13. Get Right
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    Get Right Platinum Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass Summit Attendee

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    My first real business I started literally with one pack of rubber bands. I lacked confidence in myself so I did it the slow way.

    I went all-in on my current one. I have built up way more confidence in my ability to succeed primarily from the fine folks here on the forum.
     
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  14. Lenin G.
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    Lenin G. New Contributor

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    Hey man, so you're planning to get into a business just because you can be the cheapest option?

    Have you studied the market a little bit and know if you can scale it properly or just want to see if this product idea has legs?

    Now, as a way of training yourself and get your feet wet I'd say give it a go, but if you're planning to grow a serious business from it I think you should be more careful.

    The same as some of the other guys that replied I've invested from nothing to several tens of thousands of dollars, but that figure is not that relevant, just make sure you don't break the bank when testing this idea.

    Good luck, buddy.
     
  15. Nigel B
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    Nigel B Life Long Learner Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    Doesn't matter. Don't risk more than you can afford.

    For some people that is $200 for other it is tens of thousands, or more.

    Bite the bullet, try it and correct fast - you won't get it right first time - and you won't get it right by trying to second guess everything.
     
  16. Andy Black
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    Andy Black Any colour, as long as it's red. Staff Member Read Millionaire Fastlane FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR

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    €0 of my own actual money to get started. Plenty of unpaid time though.

    Clients paid (and still pay) me to provide a service.

    They’ve also paid to build my team, processes, and technologies.
     
  17. ProblemOd
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    ProblemOd Silver Contributor Read Millionaire Fastlane FASTLANE INSIDER Speedway Pass

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    Bout 350.

    Jk, more like $6000 which was all my savings at the time in 2016. But my waiter job covered rent so I wasn't too worried.

    Now i'm starting to spend around $80,000 every 3-4 months or so for inventory :eek:
     
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  18. Ecom man
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    Ecom man Platinum Contributor Read Millionaire Fastlane FASTLANE INSIDER Speedway Pass

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    Started it with literally $50-$100. I think my first order was for 5 items or something like that lol. Starting is often cheap... it is growing the business that can get real expensive.
     
  19. ericaung
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    ericaung New Contributor Read Millionaire Fastlane I've Read UNSCRIPTED

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    Bump it up! I am also curious ;-)
     

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